Indonesian share prices closed 0.5 percent higher on Friday after the government announced strong 2007 economic growth data, dealers said. The Jakarta Composite index closed up 12.55 points at 2,688.19. Volume was 3.48 billion shares valued at 41.34 trillion rupiah (4.46 billion dollars).
Decliners narrowly led gainers 86 to 84, with 73 stocks unchanged. The economy expanded 6.32 percent, official data showed, the fastest since the Asian financial crisis 11 years ago. Fitch Ratings upgraded Indonesia's credit ratings citing progress in the government's efforts to boost the investment climate.
"The market ... managed to bounce back in the second session, boosted by encouraging GDP (gross domestic product) data, as well as the recovery in some regional markets," said Evergreen Capital analyst Edwin Sebayang.
The market lost ground in the morning after bearish comments from Federal Reserve Chairman Ben Bernanke about the US economy. Perusahaan Gas Negara rose 150 rupiah to 12,750. Telkom added 50 rupiah to 10,000. Its rival Indosat edged up 50 rupiah to 7,350.
Coal miner Indo Tambangraya surged 1,600 rupiah to 28,400, Medco Energi firmed 25 to 4,175 and car maker Astra International added 250 to 27,250. Tin miner Timah advanced 700 to 28,700. Coal producer Bumi Resources slipped 50 rupiah to 7,250 on profit-taking. Plantation stocks were mostly up, with Astra Agro rising 600 rupiah to 30,200 and London Sumatra adding 400 to 12,050.
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